Salt Lake County Home Prices 4th Quarter 2016
Summary of how the Salt Lake County Utah housing market performed in the 4th quarter 2016.
4th Quarter 2016 Housing Market Update
The median home sales price for Salt Lake County stood at $268,000 in the 4th quarter 2016. While this was a 7.24% gain when compared to the same time last year, it was actually slightly down on prices seen in the last 2 quarters ($270,000 and $269,900). This stabilizing of home prices could be down to several things, a rising interest rate environment or maybe uncertainty due to the election. While the number of homes coming onto the market remained pretty much the same, the actual number sold saw a 6.75% rise, with 4157 homes sold in the quarter. The time it took to sell a home stood at a median of 19 days, which was 20% faster than last year and is a good indicator of a strong sellers market.
Single Family Home Sales
Single family home sales prices stood at $295,000 in the 4th quarter, a healthy 7.90% increase year on year. There were fewer homes coming on the market (a drop of 2.25%), but even with this more homes were sold, with 3132 homes sold , an increase of 4.64%. Median time on market stood at 19 days, just over 20% faster than last year's number.
Condo Home Sales
Condo sales were actually stronger than single family homes. The median condo sales price increased 11.72% to stand at $174,000. More condos were listed in the quarter, with 451 new listings, up 5.87%. Number of condos sold in the quarter stood at 421, a rise of 3.95%, taking a median of just 16 days to go under contract.
| Zip Code | City | Property Type | Median Price | Percentage Change |
|---|---|---|---|---|
| 84009 * | South Jordan | Single Family | $395,000 | up 7.28% |
| 84009 * | South Jordan | Condo | $219,900 | N/A |
| 84020 | Draper | Single Family | $423,000 | up 3.93% |
| 84020 | Draper | Condo | $243,200 | N/A |
| 84044 | Magna | Single Family | $196,500 | up 10.33% |
| 84044 | Magna | Condo | $114,000 | N/A |
| 84047 | Midvale | Single Family | $259,900 | up 13.49 |
| 84047 | Midvale | Condo | $174,000 | up 27.94% |
| 84065 | Riverton | Single Family | $359,900 | up 7.43% |
| 84065 | Riverton | Condo | $159,900 | N/A |
| 84070 | Sandy | Single Family | $279,900 | up 16.63% |
| 84070 | Sandy | Condo | $174,000 | up 8.07% |
| 84084 | West Jordan | Single Family | $255,000 | up 8.77% |
| 84084 | West Jordan | Condo | $158,000 | up 9.04% |
| 84088 | West Jordan | Single Family | $266,950 | up 1.23% |
| 84088 | West Jordan | Condo | $235,000 | N/A |
| 84092 | Sandy | Single Family | $375,000 | down 0.79% |
| 84092 | Sandy | Condo | No Sales | N/A |
| 84093 | Sandy | Single Family | $397,450 | up 18.64% |
| 84093 | Sandy | Condo | $266,000 | N/A |
| 84094 | Sandy | Single Family | $287,950 | up 10.79% |
| 84094 | Sandy | Condo | $155,300 | N/A |
| 84095 | South Jordan | Single Family | $397,950 | up 11.31% |
| 84095 | South Jordan | Condo | $275,000 | N/A |
| 84096 | Herriman | Single Family | $325,575 | up 0.66% |
| 84096 | Herriman | Condo | $178,875 | N/A |
| 84101 | Salt Lake City | Single Family | $180,950 | N/A |
| 84101 | Salt Lake City | Condo | $283,000 | up 19.66% |
| 84102 | Salt Lake City | Single Family | $423,500 | up 28.14% |
| 84102 | Salt Lake City | Condo | $214,750 | up 35.92% |
| 84103 | Salt Lake City | Single Family | $525,000 | up 18.64% |
| 84103 | Salt Lake City | Condo | $222,500 | up 23.68% |
| 84104 | Salt Lake City | Single Family | $179,000 | up 17.76% |
| 84104 | Salt Lake City | Condo | $76,950 | N/A |
| 84105 | Salt Lake City | Single Family | $366,500 | up 8.43% |
| 84105 | Salt Lake City | Condo | $127,500 | N/A |
| 84106 | Salt Lake City | Single Family | $315,000 | up 10.92% |
| 84106 | Salt Lake City | Condo | $174,000 | up 12.02% |
| 84107 | Murray | Single Family | $276,745 | up 10.70% |
| 84107 | Murray | Condo | $128,500 | down 6.55% |
| 84108 | Salt Lake City | Single Family | $482,500 | down 2.53% |
| 84108 | Salt Lake City | Condo | $344,`75 | N/A |
| 84109 | Salt Lake City | Single Family | $405,250 | up 6.64% |
| 84109 | Salt Lake City | Condo | $152,100 | N/A |
| 84111 | Salt Lake City | Single Family | $265,500 | up 6.20% |
| 84111 | Salt Lake City | Condo | $218,250 | down 33.66% |
| 84115 | South Salt Lake | Single Family | $235,000 | up 17.50% |
| 84115 | South Salt Lake | Condo | $90,723 | down 37.43% |
| 84116 | Salt Lake City | Single Family | $215,000 | up 16.22% |
| 84116 | Salt Lake City | Condo | $91,000 | N/A |
| 84117 | Holladay | Single Family | $475,000 | up 38.69% |
| 84117 | Holladay | Condo | $150,000 | up 22.20% |
| 84118 | Taylorsville/Kearns | Single Family | $219,000 | up 13.47% |
| 84118 | Taylorsville/Kearns | Condo | $144,000 | N/A |
| 84119 | West Valley City | Single Family | $220,000 | up 18.60% |
| 84119 | West Valley City | Condo | $154,900 | up 24.02% |
| 84120 | West Valley City | Single Family | $217,000 | up 11.28% |
| 84120 | West Valley City | Condo | $188,200 | N/A |
| 84121 | Cottonwood | Single Family | $365,250 | up 10.68% |
| 84121 | Cottonwood | Condo | $213,700 | up 25.01% |
| 84123 | Taylorsville/Murray | Single Family | $272,400 | up 6.41% |
| 84123 | Taylorsville/Murray | Condo | $118,750 | down 0.96% |
| 84124 | Holladay | Single Family | $468,450 | up 12.20% |
| 84124 | Holladay | Condo | $324,500 | N/A |
| 84128 | West Valley City | Single Family | $229,900 | up 8.19% |
| 84128 | West Valley City | Condo | $192,000 | N/A |